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R EE E K L Y P O R T
25 APR – 29 APR 2016
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MARKET OUTLOOK
MARKET EVENTS Rupee ends the week on flat to positive note. Yen's fall on possible BOJ move lets Japan stocks avoid Asia slide. China's yuan edges down, trend of general stability intact. Eurozone stuck in slow growth rut at start of second quarter.
CURRENCIES
USDINR
PREVIOUS
CURRENT
RATE
RATE
66.7250
66.5300
Indian Rupee gained on the first two trading sessions against the greenback on reveal of WPI on Monday which was in line with street expectations (-0.85%) and strong IIP and CPI nos in the previous week. But soon, in the later part of the week it lost its shine against the American currency on increased demand from Banks and Importers. Domestic Equity markets too not supported the Indian currency much as they also remain subdued during the week. In overseas, Yen hit two week low against the greenback on back of reports that Bank Of Japan could expand its negative interest rate policy.
KEY RATES As on 22/04/2016 % CHANGE REFERENCE RATE (USD)
66.4925
REPO RATE
6.50%
-0.29
EURINR
75.4550
75.0300
-0.56
REVERSE REPO
6.00%
GBPINR
95.0825
95.7425
0.69
CRR
4%
JPYINR
61.0525
60.1400
-1.49
INFLATION
-0.85%
USDINR
USDINR last week dragged in first half of the week but recovered in the last two trading sessions and finally settled on flat to negative note. On daily charts, it is strongly facing resistance around the trend line and needs to close above it to reach towards the next resistance of 66.9000. On lower side, 66.0000 is still seen as the key support level.
EURINR
EURINR last week dragged towards lower levels and closed near to the trend line which is acting as strong support for the counter. If it breaches the strong support and close below 74.8000 then it may further fall towards the next immediate support of 74.3000. Any reversals from current levels may find resistance around 75.6000 in the coming week.
PIVOT TABLE CURRENCIES
S1
S2
S3
R1
R2
R3
USDINR
66.1000
65.7000
65.3000
66.9000
67.2000
67.6000
EURINR
74.5000
74.1000
73.6000
75.5000
76.1000
76.8000
GBPINR
95.0000
94.4000
93.7000
96.2000
96.9000
97.6000
JPYINR
59.7000
59.1000
58.5000
60.9000
61.4000
61.9000
INTERNATIONAL UPDATES French private sector output rises marginally in April. Housing Starts in U.S. Slumped More Than Forecast in March. US Unemployment Insurance Weekly Claims was 247,000, a decrease of 6,000 from the previous week.
COUNTRY
EVENT
BLOOMBERG ESTIMATE
PREVIOUS LEVEL
26-APR-16
6:00 PM
US
Core Durable Goods Orders m/m
-
-1.3%
26-APR-16
7:30 PM
US
CB Consumer Confidence
-
96.2
US
FOMC Statement
-
-
US
Unemployment Claims
-
247k
DATE
TIME
11:30 27-APR-16 PM 6:00 28-APR-16 AM
DISCLAIMER
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